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The services sector, which makes up nearly 80pc of the UK economy, took a heavy knock in March as bad weather such as the so-called "Beast from the East" pushed growth down to its lowest level since July 2016.

The score on the Purchasing Managers Index (PMI), on which anything above 50 indicates growth, slipped down to 51.7 in March from 54.5 in February.

According to IHS Markit, which compiles the data, anecdotal evidence confirmed that poor weather had disrupted business operation and had a dampening effect on sales.

The data comes after the Bank of England's Monetary Policy Committee (MPC) warned that snow disruption could have dented the UK economy, "although it was difficult to quantify...